Stock Report

IOL Chemicals and Pharmaceuticals receives CEP for Paracetamol to Export in European Market



Posted On : 2023-05-08 12:57:46( TIMEZONE : IST )

IOL Chemicals and Pharmaceuticals receives CEP for Paracetamol to Export in European Market

IOL Chemicals and Pharmaceuticals Limited (IOL), a leading manufacturer of pharmaceutical (APIs) and specialty chemicals, has received the European Directorate for the Quality of Medicines & HealthCare's (EDQM) Certificate of Suitability (CEP) to export Paracetamol to the European Market. Paracetamol is utilised commonly in medication prescribed for pain relief and to treat fever.

The certification issued by the EDQM verifies the compliance of pharmaceutical substances and with this backing, IOL will now be able to export Paracetamol to the European continent. The company started commercial production of the same in 2022 in its Punjab-based facility where it is also backward integrated to produce the key starting material for Paracetamol.

At present, IOL has a total capacity of 3,600 tonnes to produce Paracetamol.

IOL is the world's largest producer of Ibuprofen API with 33% market share globally. Additionally, it has over 13 APIs in its portfolio, including Metformin, Fenofibrate, Lamotrigine, Clopidogrel Bisulphate, and Pantoprazole.

Shares of IOL Chemicals and Pharmaceuticals Limited was last trading in BSE at Rs. 397.35 as compared to the previous close of Rs. 407.35. The total number of shares traded during the day was 6209 in over 496 trades.

The stock hit an intraday high of Rs. 406.30 and intraday low of 395.10. The net turnover during the day was Rs. 2478859.00.

Source : Equity Bulls

Keywords

IOLChemicalsandPharmaceuticals INE485C01011 EDQM CEP Paracetamol EuropeanMarket